Hong Kong stock review: Hang Seng Technology Index rose 1.25% and stopped falling for 6 consecutive years, new energy returned strongly, and power stocks surged across the board

The three major indices rebounded, with a net capital inflow of HK$2,842 billion and market turnover of HK$97.8 billion.

Today, Hong Kong stocks, which have been falling continuously, ushered in a rebound in the market. $Hang Seng TECH Index(800700.HK)$ At one point, it rose to 2.6% in the afternoon, and finally closed up 1.25% and stopped falling for 6 consecutive years. $Hang Seng Index(800000.HK)$ 、 $Hang Seng China Enterprises Index(800100.HK)$ They rose 0.7% and 0.8%, respectively. The net daily inflow of capital from the South was HK$2,842 billion, and the market turnover was HK$97.8 billion.

On the market, a rebound in large technology stocks across the board led to a recovery in the market. $KUAISHOU-W(01024.HK)$ increased by 5.5%, $TENCENT(00700.HK)$ rose 2.9%, $JD-SW(09618.HK)$ up 2.56%, $MEITUAN-W(03690.HK)$ ， $XIAOMI-W(01810.HK)$ They are all rising, $NTES-S(09999.HK)$ bucked the trend and fell by nearly 2%%;

The agency believes that the tight situation of electricity supply and demand has intensified, with power stocks leading the rise throughout the day, with Huaneng International Power rising by about 8%; new energy sources such as lithium batteries and photovoltaic stocks, which have been falling continuously, have returned strongly. The leading company Ganfeng Lithium has risen by about 6%, and military stocks, mobile game stocks, automobile stocks, catering stocks, and aviation stocks have risen one after another. Semiconductor stocks continued to fall. SMIC declined for 4 consecutive days. Heavy infrastructure stocks fell significantly, Chinese leading stocks were sluggish across the board, and China Railway Construction fell more than 4%.

Let's take a look specifically:

Electricity stocks led the way, $HUANENG POWER(00902.HK)$ An increase of more than 8%, $HUADIAN POWER(01071.HK)$ An increase of more than 5%, $DATANG POWER(00991.HK)$ An increase of more than 4%, $CHINA POWER(02380.HK)$ 、 $CHINA RES POWER(00836.HK)$ Wait until it rises.

According to the news, Huaneng Power's revenue for the first quarter was 65.269 billion yuan, up 0.03% year on year; net profit attributable to shareholders of listed companies was 2.25 billion yuan, up 335.3% year on year. Tianfeng Securities believes that in the second quarter, electricity prices in many provinces are still expected to rise at a high rate. At the same time, spot coal prices on the cost side will drop sharply and are expected to drive up Changxie Coal's compliance rate, and the profitability of thermal power may be further restored. Furthermore, with the current decline in imported coal prices and the liberalization of Australian coal as a complement, the profitability of coastal power plants is expected to recover at an accelerated pace.

New energy sources such as photovoltaic stocks and lithium battery stocks, which were weak in the early period, collectively boosted. $GCL NEWENERGY(00451.HK)$ 、 $GANFENGLITHIUM(01772.HK)$ 、 $XINYI SOLAR(00968.HK)$ An increase of more than 5%, $CALB(03931.HK)$ An increase of more than 4%, $FLAT GLASS(06865.HK)$ 、 $SDHS NEW ENERGY(01250.HK)$ 、 $GCL TECH(03800.HK)$ An increase of more than 3%, $SOLARGIGA(00757.HK)$ 、 $XINTE ENERGY(01799.HK)$ An increase of more than 2%.

Dongwu Securities said that the current valuation level of the optical storage sector has fallen to the era of PV subsidies online. The market completely ignores the benefits. The optical storage sector has short and definite performance, long room for growth, and is extremely scarce. There is strong certainty that PV demand will increase in 2023, and companies are actively expanding production to prepare for a new era of PV growth. Domestic and international demand is strong. PV installed capacity is expected to maintain 50% + growth to 370-380GW in 2023, and we continue to be optimistic about the increase in the growth of the optical storage sector.

Auto stocks rose, $BYD COMPANY(01211.HK)$ An increase of more than 4%, $GAC GROUP(02238.HK)$ 、 $GWMOTOR(02333.HK)$ An increase of more than 2%, $GEELY AUTO(00175.HK)$ 、 $XPENG-W(09868.HK)$ 、 $LI AUTO-W(02015.HK)$ Waiting for an increase of more than 1%.

According to the news, according to the Passenger Federation, retail sales of passenger cars in the narrow sense of the term are expected to be 1.57 million units in April, up 49.8% year on year due to the low base for the same period. Among them, retail sales of new energy are expected to be 50,000 units, -8.4% month-on-month, with a penetration rate of 31.8%. The General Office of the State Council issued opinions on promoting stable, large-scale and optimal structure of foreign trade. The “Opinion” clearly promotes automobile export advantages, and local authorities and business associations organize direct customer connections between automobile companies and shipping companies to guide automobile companies to sign medium- to long-term agreements.

Beer stocks strengthened, $TSINGTAO BREW(00168.HK)$ 、 $CHINA RES BEER(00291.HK)$ An increase of more than 3%, $BUD APAC(01876.HK)$ An increase of more than 2%.

According to the Goldman Sachs Research Report, with the support of demand recovery and channel replenishment before the peak summer season, sales of Chinese beer stocks recovered steadily in the first quarter, achieving sales growth of 10% or more from a low number of units. Since the mainland nightlife market has yet to fully recover, I believe ready-to-drink channels will continue to drive the recovery in traffic.

Shipping stocks fell, $SEACON(02409.HK)$ fell by more than 6%, $SITC(01308.HK)$ Decreased by more than 4%, $OOIL(00316.HK)$ 、 $COSCO SHIP HOLD(01919.HK)$ Wait until it falls.

Semiconductors are weakening, $HG SEMI(06908.HK)$ A drop of more than 7%, $SMIC(00981.HK)$ 、 $SHANGHAI FUDAN(01385.HK)$ Wait until it falls.

Infrastructure stocks fell, $JIANZHONG CONS(00589.HK)$ A drop of more than 8%, $TIAN CHENG HLDG(02110.HK)$ A drop of more than 5%, $CHINA RAIL CONS(01186.HK)$ Decreased by more than 4%, $CHINA RAILWAY(00390.HK)$ Decreased by more than 1%.

Tomorrow's Stars: $CHINA CHUNLAI(01969.HK)$